US Oil was identified at around 68.543 having recently rebounded of the resistance on the 1 hour data interval. Ultimately, the price action of the stock has formed a Channel Down pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 67.2212 level.
US Oil is signaling a possible trend reversal on the intraday charts with price not breaching resistance.
